Tullow Oil profit drops 72pc in 2013 February 12, 2014 Tullow Oil has reported it suffered a huge fall of 72 per cent in profit before tax in 2013, to $313m (£188m). Basic earnings per share have also taken a hit, it said this morning, down 73 per cent for the year to 18.6 cents. The full-year dividend remains the same at 12p per share. [...]
African Barrick ups production targets in wake of gold price slump February 12, 2014 African Barrick Gold felt the full force of the nosedive in the price of gold last year. The miner’s reported fourth-quarter sales down almost 20 per cent to $222m (£135m), saying 2013 was a “year of significant change” due to the lower prices. Higher production in 2012 failed to translate into an improved financial performance [...]
What you need to know before the open – 12/02 February 12, 2014 Janet Yellen’s dovish comments yesterday left markets upbeat. Today, European markets await the Bank of England’s inflation report. ETX Capital #MorningCall FTSE +16, DAX +40, CAC +13, IBEX +52, SP +1, DOW -8 — ETX Capital (@ETXCapital) February 12, 2014 The crucial question is whether governor Mark Carney quietly does away with the [...]
Investment Comment: Five asset allocation strategies for long-term investors February 11, 2014 AS UNCERTAINTIES rumble on across financial markets in 2014, it can be difficult for investors to look beyond short-term market dynamics when assessing risk and returns. Yet strategic asset allocation (SAA), an investor’s long-term asset allocation with a five to seven year time horizon, is an integral aspect of overall portfolio returns. More than 80 [...]
Online payments company Stripe expands to 130 currencies February 11, 2014 Stripe, the online payments firm started by two Irish brothers in their mid-20s and valued at $1.75bn (£1.06bn) last month, has expanded its payment services from four to over 130 currencies. “This is something that is phenomenally important to businesses, because when you’re selling to an increasingly global audience you want to be able to [...]
First day of Smithfield market battle kicks off February 11, 2014 The battle over the future of Smithfield begun in earnest today as the developers Henderson and the opponents SAVE gathered in a crowded room above the Guildhall art gallery for the first day of the public inquiry. The 12-day trial begun with all sides, including City of London Corporation and the Greater London Authority giving [...]
One US politician just asked the Fed’s Yellen an impossible question February 11, 2014 Janet Yellen just got a question that no-one can truthfully answer. When representative Gregory Meeks asked Yellen to "identify the jobs" of the future, so that America can train workers accordingly, he was asking the impossible. While Meeks spoke of how mechanisation has eliminated some positions, he was only able to do so with the [...]
Top 6 building disasters: The Walkie Scorchie is not alone February 11, 2014 The City’s 37 story Jaguar-melter, otherwise known as the Walkie Scorchie, is under review this week. It looks like Land Securities, the skyscraper’s developer, is due to submit a planning application which will outline how it intends to deal with the building’s dangerous reflective glare, which has seen it melt part of a [...]
Huge 50ft sinkhole closes M2 motorway in both directions February 11, 2014 PICTURE: M2 motorway shuts after huge 50ft hole appears in central reservation. More @bbcsoutheast 6.30pm BBC1 pic.twitter.com/2HILScqmmW — Mike, Mikey, Mr G (@OldBlackHack) February 11, 2014 The opening of a 50ft (15m) sinkhole in the central reservation of the M2 has seen the motorway closed in both directions near Sittingbourne, Kent. The Highways Agency [...]
How Vodafone could give FTSE a lift this year February 11, 2014 British markets could be brought out of the doldrums by Vodafone’s selling of its Verizon Wireless stake. Investors may well start selling the shares they acquired through the $130bn (£79bn) sale of the Verizon Wireless stake to Verizon Communications. The third-biggest deal in corporate history saw spoils so big – with $84bn to be paid [...]